In this newsletter, we will go through the top weekly performances of the Token Metrics indices, the top TM grades, and how they performed over the past week. The second section of this newsletter will look into which coins are being picked most often for the upcoming week in the Token Metrics indices, and that week’s top-rated coins as well.
Market Review
Over the past week, the total crypto market cap increased by 3.6% and is currently trading around the $2.27 Trillion level. Although Bitcoin had a negative weekly return of -1.4%, the rest of the top 10 tokens by market cap had good weekly gains, most notably Solana (+25%) and Terra (+18%). Out of the top 100 coins by market cap, STEPN continued its strong growth with a weekly return of over +200%. Similarly, Frax Share has also performed very well over the past week with a return of +75%. On the other hand, the biggest weekly losers in the top 100 are Zcash (-18%) and ApeCoin (-16%).
Figure 1: The Crypto Market Cap
Data as of 04/04/2022 – Past performance is not indicative of future performance
Market Indicator
At Token Metrics, we have built multiple market signals that help identify the prevailing trend and strength of momentum. Figure 2 below shows the TM grade market indicator applied on the total crypto market cap time-series. We can see that the indicator flipped to a bullish regime on March 22nd, where the total crypto market cap was at the $2 Trillion level. This is the first bullish signal since the bearish signal of mid-November at the $2.75 Trillion level. In addition, Figure 3 below shows the proportion of coins in the top 100 that broke above their 30-day rolling highs, showing that the majority of coins have a bullish breakout formation.
Figure 2: TM Grade Market Indicator
Data as of 04/04/2022 – Past performance is not indicative of future performance
Figure 3: TM Breakout Market Indicator
Data as of 04/04/2022 – Past performance is not indicative of future performance
TM Performance
Token Metrics indices are very helpful in providing insights and research recommendations to our customers. In Figure 4 below, we show the top 5 performing short-term (Daily and Weekly), Indices over the past 7 days. As shown below, the Kucoin Daily Low-Cap index returned +27% in the past week alone.
Figure 4: TM High-Cap Indices Performance
| Exchange | Time-Horizon | High-Cap | 7-day Return |
| Kucoin | Daily | Low-Cap | + 27% |
| Gate | Daily | Low-Cap | + 19% |
| Binance | Weekly | Low-Cap | + 19% |
| Bittrex | Daily | Low-Cap | + 13% |
| FTX US | Weekly | High-Cap | + 11% |
To get a better idea about the performance of TM indices, Figure 5 below shows the allocation and daily returns of the Kucoin Daily Low-Cap index. The daily returns chart shows that this index had positive daily returns on most days over the past week, with the best daily return exceeding +20%.
Figure 5: Kucoin Daily Low-Cap Index
Data as of 04/04/2022 – Past performance is not indicative of future performance
TM Grade Analysis
To see how the TM grade has been able to flag tokens that performed very well over the past week, Figure 6 below shows the time-series of Alpha Venture DAO Token’s price compared to its TM grade. From the Alpha plot, we can see that the TM grade was in the high 80s when the coin was still trading around $0.35, and remained in the high 80s with the coin now trading above $0.55.
Figure 6: TM Grade vs Price
Data as of 04/04/2022 – Past performance is not indicative of future performance
As shown, the TM grade is a great tool to identify coins that have strong bullish momentum, especially coins that can go under the radar. In fact, as shown in Figure 7 below, the TM grade was able to flag a few tokens that performed well in terms of weekly returns.
Figure 7: Top Performers by TM Grade
| Coin | TM Grade | Date of Grade | ROI |
| BakerySwap | 86 | 03/28 | + 63% |
| Zilliqa | 86 | 03/28 | + 50% |
| MAPS | 87 | 03/28 | + 45% |
| Alpha Ventures DAO | 87 | 03/28 | + 43% |
| Klever | 87 | 03/28 | + 35% |
Data as of 04/04/2022 – Past performance is not indicative of future performance
Looking ahead
Looking at the current indices allocation, we can see that the AI’s most popular coins this week are Solana, Bitcoin, Polymath, Maple, and Terra.
To learn more about everything crypto, visit our Learn Section.
